Marvell Technology’s Full Year 2024 Earnings Fall Short of EPS Expectations

Marvell Technology’s Full Year 2024 Earnings Fall Short of EPS Expectations

Marvell Technology (NASDAQ: MRVL) reported its full year 2024 results with key financial figures showing mixed performance. The company’s revenue decreased by 7.0% from the previous year to US$5.51 billion, while its net loss widened by 471% to US$933.4 million. Earnings per share deteriorated to US$1.08 loss from US$0.19 loss in FY 2023.

Despite revenue being in line with analyst estimates, earnings per share missed expectations by 71%. Looking ahead, Marvell Technology is forecasting a 13% average annual revenue growth over the next 3 years, lower than the 16% growth forecast for the Semiconductor industry in the US.

The American Semiconductor industry has seen a decline in Marvell Technology’s shares, which are down 2.8% from a week ago. It is important for investors to analyze not only a company’s earnings but also the strength of its balance sheet. Analysts have provided their take on Marvell Technology’s balance sheet, which should be considered when evaluating the company’s financial position.

If you have any feedback or concerns about this article, you can get in touch with the editorial team at Simply Wall St directly. Please note that the content of the article is based on historical data and analyst forecasts, and should not be taken as financial advice. Simply Wall St aims to provide unbiased analysis driven by fundamental data, and it may not include the most recent company announcements or qualitative information in its analysis. Simply Wall St does not hold any positions in the stocks mentioned in the article.

Leave a Reply